Employees Provident Fund Board Purchases New Stake in Dover Corporation $DOV

Employees Provident Fund Board bought a new position in shares of Dover Corporation (NYSE:DOV) in the 4th quarter, HoldingsChannel reports. The fund bought 242,479 shares of the industrial products company’s stock, valued at approximately $47,342,000.

Other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in shares of Dover by 234.2% in the 4th quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Dover during the 4th quarter worth approximately $26,000. Financial Life Planners bought a new stake in shares of Dover in the third quarter valued at $25,000. MV Capital Management Inc. bought a new stake in Dover in the 4th quarter valued at about $29,000. Finally, Tompkins Financial Corp lifted its stake in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after buying an additional 77 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DOV shares. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Citigroup restated a “buy” rating on shares of Dover in a research report on Friday, April 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $229.00 target price on shares of Dover in a research report on Friday, April 24th. Oppenheimer boosted their price target on shares of Dover from $242.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $239.85.

Dover Stock Performance

Shares of DOV opened at $223.64 on Friday. The firm has a market capitalization of $30.12 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.87 and a quick ratio of 1.32. The company has a 50-day simple moving average of $217.43 and a two-hundred day simple moving average of $211.82. Dover Corporation has a one year low of $158.97 and a one year high of $237.54.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.01. Dover had a return on equity of 18.01% and a net margin of 13.30%.The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Dover has set its FY 2026 guidance at 10.450-10.650 EPS. On average, analysts anticipate that Dover Corporation will post 10.65 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, May 29th. Dover’s payout ratio is currently 25.94%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.